After strategy shifts, Deutsche Bank taps investors again

The logo of Deutsche Bank is seen in front of one of the bank's office buildings in Frankfurt
Thomson Reuters
FRANKFURT (Reuters) - Deutsche Bank announced details of its latest bid for cash on Sunday, as it turned for the fourth time to investors, many of whom have privately expressed exasperation with its strategic shifts and heavy losses in recent years.

The rights issue represents an increase of about 50 percent in Deutsche Bank's current shares and puts the bank on course to have raised more than its 25 billion euro ($27 billion) market value in the last seven years.

Since the financial crisis, the lender has been forced to change tack on strategy, most conspicuously in the case of Postbank, a German retail lender it bought in 2010, the same year it tapped investors for more than 10 billion euros.

Less than five years later, management announced that Postbank would be sold, unveiling what they described as the "next milestone in the journey".

Roughly two years later, under new Chief Executive John Cryan the sale has been canceled.

Deutsche also announced in 2015 a reorganization to separate its markets and investment banking business, only to recombine them two years later.